Halicioglu, Ferda; Ugur, Mehmet - In: Global Business and Economics Review 7 (2005) 2/3, pp. 203-213
This paper empirically analyses the stability of the narrow money demand function (M1) in Turkey for the period 1950–2002. As part of the IMF sponsored stabilisation programme, Turkey has been pursuing base money targets. To ascertain whether this policy framework satisfies the necessary...